Date posted: 13/07/2022 2 min read

Update on investigation into internal training misconduct at KPMG Australia

Last updated: 13 July 2022

Chartered Accountants Australia and New Zealand (CA ANZ) takes all allegations of academic misconduct, including cheating, seriously, and all instances that come to our attention are reported to the Professional Conduct Committee.

The Professional Conduct Committee of CA ANZ has concluded its investigation into the remaining 12 members involved in the KPMG Australia internal training misconduct matter.

Four cases have been closed, and eight members have received a caution, which is noted on the member’s record, as well as a costs sanction.

Details regarding the individuals, sanctions and other outcomes remain confidential in line with CA ANZ’s By-Laws.

CA ANZ is now commencing a Professional Conduct Framework Review to ensure our By-Laws and standards are robust and remain in line with best practice.

Previous update: 19 April 2022

Following the decision by the Public Company Accounting Oversight Board (PCAOB), an investigation was launched by our independent Professional Conduct Committee (PCC) into the internal training misconduct by CA ANZ members at KPMG Australia in relation to the 2019/2020 independence test (KPMG Training Misconduct).

The comprehensive investigation by the PCC involved the examination of the PCAOB Order and Release No. 105-2021-008 and additional evidence supplied by KPMG Australia.

As a result of that investigation, the PCC identified a total of 422 CA ANZ members who engaged, to some degree, in the KPMG Training Misconduct.

In relation to 410 member cases, the PCC has concluded its investigation and determined that the activities undertaken by those members did not meet the threshold for further action under the Code of Ethics and CA ANZ By-laws, and the sanctions and remedial actions already applied by KPMG Australia in response to the PCAOB findings are sufficient.

The balance of the CA ANZ members involved are proceeding through our member professional conduct process as individuals in accordance with the CA ANZ By-laws.

We would like to acknowledge the extensive and thorough investigation by the independent PCC.

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